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February 10, 2016 8:21 PM ET

Diversified Consumer Services

Company Overview of Redbox Automated Retail, LLC

Company Overview

Redbox Automated Retail, LLC operates a network of self-service kiosks that offer new-release movies’ DVDs and Blu-ray discs, and video game rentals. It operates kiosks at grocery, drug, and convenience stores, as well as select Walgreens, Walmart, and McDonald’s locations in the United States. The company was founded in 2002 and is based in Oakbrook Terrace, Illinois. As of January 1, 2008, Redbox Automated Retail, LLC operates as a subsidiary of Outerwall Inc.

One Tower Lane

Suite 900

Oakbrook Terrace, IL 60181

United States

Founded in 2002

Phone:

630-756-8255

Fax:

630-756-8885

Key Executives for Redbox Automated Retail, LLC

Interim President
Age: 48
Senior Vice President of Finance and Operations
Age: 57
Chief of Content
Senior Vice President of Content
Age: 45
Senior Vice President, New Business, Strategy and Innovation
Compensation as of Fiscal Year 2015.

Redbox Automated Retail, LLC Key Developments

Redbox Automated Retail, LLC Announces Executive Changes, Effective as of December 9, 2015; Revised Revenue Guidance for the Full Year of 2015

On December 7, 2015, Outerwall Inc. announced that Erik E. Prusch became Interim President of Redbox Automated Retail, LLC, effective December 4, 2015, and that its former President Mark Horak is leaving Redbox. On December 3, 2015, the company’s Board of Directors appointed Jeffrey W. Kist as Interim Chief Accounting Officer of the company, effective as of December 9, 2015. Peter Osvaldik resigned from his position as Chief Accounting Officer of the company, effective as of December 8, 2015, in order to take a financial reporting position at another company in the region. Mr. Kist has served as Controller for Redbox since January 2014. Prior to that, he served as the director, external financial reporting and internal controls for OfficeMax Inc. from March 2012 to December 2013. From February 2011 to March 2012, Mr. Kist served as financial planning and analysis and corporate governance manager for UGN Inc. The company revised revenue guidance for the full year of 2015. The company expects revenue between $1.750 billion and $1.765 billion, compared with the prior range of $1.790 billion to $1.815 billion.

Redbox Announces Extensive Lineup of New Video Games Available

Redbox announced a full lineup of new gen games available to try for the holiday season for just $3 a night. From Fallout 4 to Call of Duty: Black Ops III, Redbox has more new gen games in stock than ever before that are available to rent at more than 33,000 Redbox® locations nationwide. Redbox's affordable and convenient rental model is ideal for gamers who want to play more games or try titles before buying them at an average cost of $60. With a rent-and-return anywhere policy and titles are available for rent the same day they are available for in-store purchase, Redbox makes it easier than ever for players to try new games by reserving popular titles or through the Redbox app. Some of the new gen video games available for rent at Redbox include: New-releases games available now: Fallout 4 on PS4 and Xbox One; Call of Duty: Black Ops III on PS4 and Xbox One; Halo 5 Guardians on Xbox One; NBA 2K16 on PS4 and Xbox One; Mad Max on PS4 and Xbox One; WWE 2K16 on PS4 and Xbox One; Mortal Kombat X on PS4 and Xbox One; Batman Arkham Knight on PS4 and Xbox One; Uncharted: The Nathan Drake Collection on PS4; Until Dawn on PS4; Tony Hawk's Pro Skater 5 on PS4 [23] and Xbox One; Transformers Devastation on PS4 and Xbox One; Snoopy's Grand Adventure on PS4 and Xbox One.

Redbox Announces Unaudited Earnings Results for the Third Quarter Ended September 30, 2015

Redbox announced unaudited earnings results for the third quarter ended September 30, 2015. For the quarter, the company reported segment revenue for the third quarter of 2015 was $395.4 million compared with $435.1 million in the third quarter of 2014. The decrease of $39.7 million reflects $35.8 million attributed to a decline in total disc rentals and $3.9 million related to a decrease in revenue from kiosks removed subsequent to the third quarter of 2014 as a result of continued efforts to optimize the network by removing underperforming kiosks. Net revenue per rental was $2.96 in the third quarter of 2015, an increase of $0.42, or 16.5%, from $2.54 in the third quarter of 2014. The increase in net revenue per rental was primarily the result of the impact of the increase in daily rental prices, partially offset by the expected increase in single night rental activity and lower demand from price-sensitive customers as a result of the price increases; a decrease in Blu-ray revenue primarily as a result of fewer Blu-ray releases; and a decrease in video game revenue resulting from the consumer transition to new generation platforms and a lack of new release content availability related to the transition and seasonality of publisher release schedules. Redbox segment operating income in the third quarter of 2015 was $90.4 million, an increase of $2.1 million or 2.4%, compared with $88.3 million in the third quarter of 2014.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 6, 2015
Redbox Automated Retail, LLC, Redbox Canada Operations
 

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